Strategic blindspots

$1,950.00 plus tax ($CAD)

Even the most sophisticated companies fail sometimes to pick up signals that the environment is about to change. When strategic decisions are largely driven by anecdotes, executive intuition, past experiences, companies run the risk of making decisions based on biased information and wrongly rejecting potential growth avenues and hence limiting growth opportunities.

Hybrid
Next cohort: October 26-27, 2021  from 9am-4pm. EST (in person attendance – hybrid possible)

Even the most sophisticated companies fail sometimes to pick up signals that the environment is about to change. When strategic decisions are largely driven by anecdotes, executive intuition, past experiences, companies run the risk of making decisions based on biased information and wrongly rejecting potential growth avenues and hence limiting growth opportunities. The objective of this training session is to introduce to the participants tools and methodologies to identify and prevent strategic blindspots, and unlock future opportunities for growth. The discussion will include the following modules:

  • An introduction to strategic blindspots and a discussion of the key sources of blindspots in companies: in particular: redefining industry boundary, challenging unchallenged assumptions, identifying the real competition ( nontraditional competitors), and removing corporate taboos.
  • A complete strategic blindspot diagnostic for your company or board
  • Toolkit and sources of information to spot weak signals and interpret them before thy become mainstream trends
  • Leveraging weak signals to pivot your business model early and to anticipate future competitors moves
  • Guiding a board or a company design future growth paths, debiasing the decision-making process to avoid groupthink
  • Testing and developing an independent intelligence process for the company ( or the individual corporate director)
  • A brief review, as a conclusion, of how various models in which boards engage in strategy, from supervision to co-creation or support.

The participants should be able to walk out of the training with a basic methodology to probe the strategic intelligence needs at risk, develop a framework to acquire the information needed, supervise a process to lead a growth path analysis and avoid major blindspots during decision making.

Course program content

We will cover the following themes in this highly interactive course:

Introduction to Strategic Blindspots
Review of schedule, introduction to blindspots, and a review of consequences using rich case studies.

Identifying possible sources of blindspots
A deep dive into five typologies of blindspots: competitive biases ( industry boundary and underestimating competition), historic and anchoring biases including limited frame of reference, organizational biases as unchallenged assumptions, and corporate taboos, and finally cognitive biases such as majority tyranny and weight of the past.

Diagnostic of your organization’s possible blindspots
Using Competia’s proprietary Blindspots’ Index, assess your organization’s sensitivity to potential biases . Peer group discussions and interactive exercises will help you understand and highlight areas of risk and vulnerability.

6 processes to set-up to mitigate blindspots risks
A systematic review of six processes that can be implemented internally and run by the strategy and commercial departments in order to identify and mitigate blindspot risks. The toolkit will be discussed and applied in class with the intent of giving you a roadmap to execute when back in the office.

Spotting weak signals
In a world where we are inundated by data, it is often difficult to filter the critical information from the noise. However, if you look closely, weak signals are always detectable, signalling a significant change ahead. When these signals go undetected, or are disregarded, the results can be disastrous. Through striking examples and case studies, we demystify the methodology and tools that can be used to decipher the signals of the future and telescope big patterns to tiny insights .We will also learn to tap into “orthogonal sources of information” sourced by your peers over 10 years of knowledge from past training classes to find those signals.

Designing growth paths
This module provides participants with eight frameworks to guiding a board or a company design future growth paths, debiasing the decision-making process to avoid groupthink. We will run detailed break-out discussions using the Staircase to Growth and the Three Horizons framework.

Designing and testing alternative business models
A systematic approach to map your existing business model, and a path to design alternative scenarios. We will learn to model in real time the economic outlook for the scenarios outlined in order to rapidly prototype and assess assumptions.

Toolkits and sources of information
Broadening fields of expertise to open peripheral vision, this module allows you to tap into new and refreshing sources of inspiration to challenge assumptions, including unconventional new networks. We will also debate the top 20 unconventional trends that will impact businesses in the 2020-2030, with a particular emphasis on consumer behavior macro-shifts induced by the Covid-19 crisis.

Conclusions and free discussion
A brief review, as a conclusion, of how boards, senior management and strategy teams engage in strategy, from supervision to co-creation or support.

 

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